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> Fundamental Analysis 2017.08.22 – USD slips, Markets still await Summit Speeches
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Fundamental Analysis 2017.08.22 – USD slips, Markets still await Summit Speeches

STO

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During the week’s first trading day the US dollar continued to against other G10 in lieu of the lack of significant macroeconomic data, even so currency pairs didn’t make substantial price moves. The economic event with the most significance will be the Economic Policy Symposium hosted in Jackson Hole which will inevitably create trader apprehension as they await any fundamental information they can get from the event.

EUR/USD went up at the time of writing this article by 0.38% reaching 1.1803. EU ZEW Survey – Economic Sentiment data will be released at 11:00 GMT+2. Is speculated to drop to 34.2 points i this month, compared to last month’s 35.6 points.

GBP/USD is banded within the price range of 1.2849–1.2917.

USD/JPY saw and insignificant move reaching 109.30.

Gold prices gained 0.38% reaching 1288.29. Silver also saw an increase of 0.18% and is currently at 16.96.
It seems that oil is in correction after a rapid climb towards the last part of the week. Brent fell 1.91% and now is trading at 51.4. WTI slipped by 2.46% to 47.64. The API Weekly Crude Oil Stock with be a significant publication for the oil prices.

US stock is trading in the green at the time of writing this article. The Dow is at 21763.0. NQ went up by 0.19% reaching 5814.5. S&P is now at 2432.7.

European Stock is trading diversely. The FTSE gained 0.20% reaching 7345.1. The CAC dropped to 5101.9. The DAX lost 0.63% and is currently at 12114.9.

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

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Source: https://www.stofs.com/en/newsroom/entry/DAILY_MARKET/fundamental-analysis-20170822-usd-slips-markets-still-await-summit-speeches/?camp=24219
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